Bitcoin rebounds above $79,000 as Trump signals possible Iran deal

  • Bitcoin rose roughly 3% and moved back above $79,000 on Sept. 14.
  • CME FedWatch showed a 92.7% probability of a 25-basis-point Sept. 17 rate hike.
  • Bitcoin reclaimed its 50-week EMA at $77,430 after closing below it the prior week.

Bitcoin rose roughly 3% to reclaim $79,000 on Sept. 14 after US President Donald Trump indicated that the conflict with Iran could be nearing an end. The recovery erased weekend losses and lifted BTC back above its 50-week exponential moving average (EMA) at $77,430, a technical level watched for signs of a renewed uptrend. Oil briefly declined following Trump's comments but remained elevated, while US equities reversed an early gain. Markets have meanwhile priced a 92.7% probability of a 25-basis-point Federal Reserve rate increase to 3.75-4% on Sept. 17, according to CME Group's FedWatch Tool. QCP Capital said sustained energy costs could raise inflation expectations and constrain the Fed's scope to pause monetary tightening.

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